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A businessman pledges a gift of $100 million, and an ecstatic college offers to change its name to his

When a wealthy man insists on flogging his fortune at his fellows, it is not nice to refuse. For example, it would be exceedingly rude for Americans to deny a billionaire simply because he wants to buy the presidency for $100 million and occupy what would thenceforth be known as the Ross Perot Memorial White House.

The trustees of sleepy little Glassboro State College in southern New Jersey are certainly not rude. Overwhelmed by a munificent $100 million pledge from a local businessman named Henry Rowan, the trustees last week not only voted to take the money but, in an expression...

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